Osisko Development (CVE:ODV) Hits New 12-Month High - Time to Buy?

Key Points

• Osisko Development Corp. hit a new 52-week high of C$5.33, closing at C$5.24 with a trading volume of 42,776 shares.
• Brokerages have rated Osisko Development with a consensus rating of "Strong Buy" and a target price increase to C$6.00 by Royal Bank Of Canada.
• The company's flagship asset is the Cariboo Gold Project in British Columbia, covering approximately 155,000 hectares across 415 mineral titles.

Osisko Development Corp. (CVE:ODV - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as C$5.33 and last traded at C$5.24, with a volume of 42776 shares changing hands. The stock had previously closed at C$5.01.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ODV. Stifel Canada raised Osisko Development to a "strong-buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada lifted their target price on Osisko Development from C$5.00 to C$6.00 in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus target price of C$6.00.

Osisko Development Trading Up 1.8%

The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.81 and a current ratio of 0.47. The company has a 50 day simple moving average of C$4.12 and a two-hundred day simple moving average of C$3.21. The firm has a market cap of C$1.22 billion, a PE ratio of -4.59 and a beta of 1.78.

About Osisko Development

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.

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